Nortech Systems, Inc. (Nortech) is an electronics manufacturing services (EMS) provider. It offers technical, manufacturing services and value-added engineering services including testing, designing, prototyping, project management, manufacturing, supply chain, post-market and management solutions. The company also provides printed circuit board assemblies, wire and cable assemblies, complete medical devices and complex higher-level electromechanical assemblies. Nortech serves aerospace and medical, industrial and defense markets including agriculture, capital equipment, vision, transportation and oil and gas. It operates manufacturing facilities in various cities across Minnesota including Bemidji, Blue Earth, Mankato, Merrifield, Milaca and Maple Grove. The company's operations are also spread across Mexico, the US and China. Nortech is headquartered in Maple Grove, Minnesota, the US.
Headquarters
United States of America
Address
Suite 150, 7550 Meridian Circle N, Maple Grove, Minnesota, 55369
Website
www.nortechsys.com
Telephone
1 952 3452244
No of Employees
733
Industry
Industrial Goods and Machinery
Ticker Symbol & Exchange
NSYS (NASD)
Revenue (2022)
$139.3M
3.9%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
242%
(2022 vs 2021)
Market Cap*
$47.4M
Net Profit Margin (2022)
XYZ
228.7%
(2022 vs 2021)
* As of and is in US$
Nortech Systems, Inc. premium industry data and analytics
Products and Services
| Services |
|---|
| Engineering and Design |
| Rapid Prototyping |
| Supply Chain Management |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2021 | Contracts/Agreements | In June, the company entered into a bilateral cooperation and project funding agreement with Marpe Technologies and the BIRD to develop a total-body tele-dermatology scanning system. |
| 2019 | Contracts/Agreements | In August, the company entered into a design and development agreement with SubioMed. |
| 2017 | Corporate Changes/Expansions | In October, the company collaborated with Panasonic Factory Solutions Company to expand manufacturing capabilities. |
Competitor Comparison
| Key Parameters | Nortech Systems, Inc. | Ducommun Inc | Key Tronic Corp | Atronix, Incorporated | IEC Electronics Corp. |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Maple Grove | Santa Ana | Spokane | Billerica | Newark |
| State/Province | Minnesota | California | Washington | Massachusetts | New York |
| No. of Employees | 733 | 2,265 | 5,447 | - | 860 |
| Entity Type | Public | Public | Public | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| David B. Kunin | Chairman | Executive Board | 2015 | 64 |
| Jay D. Miller | Chief Executive Officer; Director; President | Executive Board | 2019 | 64 |
| Andrew D. C. LaFrence | Chief Financial Officer; Senior Vice President - Finance | Senior Management | 2023 | 61 |
| Monica Hamling | Vice President - People Operations and Culture | Senior Management | 2021 | - |
| Corey Hancock | Vice President - Sales & Business Development | Senior Management | 2023 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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